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general rule NO, but check with your state to be sure

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โˆ™ 2015-07-15 18:32:44
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Q: Do you have to have a repossession license to repo a car if you work for or own the car lot that is repossessing it?
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Related questions

Do you need a repossession license to work for a repossession company in Michigan?

only a drivers license


Do you need a repo license to work for a repo company in Florida?

yes


Are there any car repo companies in Detroit Michigan?

Yes, there are. Most repossession services are actual towing companies who also do repossession work.


What is the difference between voluntary repossession and regular repossession and the pros and cons with it?

Neither are good. Call the lender and work something out. a repo is a repo by any standard ,they will sell the unit and go after you for the deficiency no matter what.it will be on your credit as a repo. You will not have to pay the towing and fees associated with the repo. That is the only difference.


Can a repo take place at your work in Florida?

A repossession can be executed anyplace or time that a person holding the repossession order sees the vehicle in question, as long as the repo man does not violate the law in doing so. That said, Florida law does not restrict repossession according to location.


How do you go about finding work as a repo agent in Alabama?

contact your repossession companies, car dealerships in your area


How can you get a job at repossessing cars?

you need to contact lenders/banks to find out what their requirements are:trucks, insurance, etc. if your still interested make some calls to local guys and see if they are hiring. Unless you are trying to start your own repo company, calling lenders is not necessary. Try looking up "Repossession" in your local phone book and make some calls. Find out what the requirements are to work for them. Some states, like California, say that you have to have an individual license to do repossessions. To get that license you can't have a criminal record. It only takes a minute to make a call. Isn't that where the money is in starting your repo business?


If you move to Florida can you still get your car repo?

Yes. The repo company I work for goes out of state at least once a month to get a repo because the owners have moved, I don't believe any state will stop a repossession just because the car was moved to a different state.


Is there a place to find rules and regulations for repossessing vehicles in the state of Indiana?

If this is a contract sale of a motor vehicle, then Indiana Code 26-1-9.1-609 "Secured Party's right to take possession after default". In Indiana - self help repossession is permitted as long as there is no breach of the peace. WHOOPS - you want to be a repo man. There are no specific licenses for repo in Indiana. You'd have to check with your insurance company about bonding. The private detective field and repo field are closely related. You might check with the Indiana Secretary of State, Indiana Attorney General's office or you can call Indiana Professional Licensing Agency 317-234-3040 but that is mainly for PI work license.


Can they repo you vehicle with a work trailer connected?

They can disconnect the trailer, but, if that trailer isn't included in the order for repossession, they cannot take it - doing so is theft, and a crime.


How much money do you get paid for repossessing a car?

I'm sure it depends on where you are, but the finance company that I used to work for paid between $150 and $300 per car, depending whether the customer voluntarily surrendered the car or whether the repo agent had to take it.


What are the consequences of voluntarily repossessing a car after having it for 6 months?

Credit will be ruined for 7 years. You will also pay the difference in what the lender sells the car for and the balance on the note, and possibly the repossession fees. Avoid this if at all possible. Talk to the lender and see if you can work this out.

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